Axera Semiconductor Co., Ltd. (愛芯元智半導體股份有限公司) released a document detailing the roles and responsibilities of its Remuneration Committee. According to the announcement, the Committee comprises at least three directors, with a majority being independent non-executive directors, and is tasked with formulating appraisal standards, conducting performance evaluations, and determining remuneration policies and plans for directors and senior management.
The announcement specifies the Committee’s authority to review and approve compensation proposals, ensuring alignment with corporate goals and objectives. The remuneration plan for directors will be reported to the Board and then submitted to the shareholders’ general meeting for final approval. The Committee is also responsible for reviewing any proposed compensation arrangements in the event of termination or dismissal to ensure fairness and compliance with existing contractual terms.
Furthermore, the document outlines procedures for convening Committee meetings, which must take place at least once a year. All Committee members must be given notice at least three days in advance, and a quorum requires at least two-thirds of the members’ attendance. The announcement emphasizes the importance of confidentiality and record-keeping in the Committee’s proceedings, stipulating that meeting minutes be properly maintained and shared with the Board.
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